Strax: Interim Report no 2 for the Financial Year 2018

STOCKHOLM, Aug. 23, 2018 /PRNewswire/ -- STRAX is taking immediate action to adjust to a rapidly changing business environment, with significant cost reductions and investments in

e-commerce as well as digitalization tools to future proof the business, whilst continuing to pursue the house of brands strategy.

• The Group's sales for the period January 1 – June 30, 2018, amounted to MEUR 45.8 (43.5), gross margin increased to 32.5 (27.9) percent.
• The Group's result for the period January 1 – June 30, 2018, amounted to MEUR 0.2 (2.2) corresponding to EUR 0.02 (0.02) per share. Equity as at June 30, 2018 amounted to MEUR 20.9 (20.0) corresponding to EUR 0.18 (0.17) per share.
• EBITDA for the period January 1 – June 30, 2018, amounted to MEUR 2.6 (3.3).  
• STRAX fully understands and is prepared to address the extensive transformation its retail customers are going through; everything from e-commerce expansion, declining smartphone sales, growth of Asian OEMs to changes in consumer consumption and shopping patterns.

"STRAX has a solid foundation to become a distributor of the future: we have sound infrastructure, strong customer base, and highly qualified and motivated team, as well as a proven ability to change and transform when needed. I remain content with our house of brands strategy and optimistic that more profitable times are ahead," Gudmundur Palmason, CEO.

For further information please contact
Gudmundur Palmason
CEO
Strax AB
+46-8-545-01750

This information is information that Strax AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:55 CET on August 23, 2018.

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http://news.cision.com/strax/r/strax--interim-report-no-2-for-the-financial-year-2018,c2599006

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SOURCE Strax

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